| In the last 2 weeks, there have been a number of | | | | currency (Euro) had more or less similar backgrounds- |
| reports, articles and interviews in the Asian Media | | | | they were rich industrial countries that followed free |
| about the creation of Asian currency unit (ACU), a | | | | market economic system. On the other hand, in |
| single Asian currency. By going through these articles, | | | | AEAN+3 group of countries, Japan and Korea are rich |
| I could understand one thing that ACU will not take | | | | industrial countries. Malaysia can be included in this |
| place anytime soon, not even in the next 5 years- | | | | category and even now China is here. But courtiers |
| the earliest time I see is 2015. ASEAN+3 group of | | | | like Myanmar, Cambodia and Laos have hardly any |
| countries are behind the idea of ACU and soon these | | | | significant industry and they have still agriculture |
| countries are going to start a research project about | | | | based economy. The economic prosperity of Brunei is |
| ACU.Well, I am not in favor of calling it as 'Asian | | | | based on its selling of gas to Japan.More than |
| Currency Unit' as it is mainly limited to some East | | | | economic diversity, political diversity is the major |
| Asian countries and all the countries of South Asia, | | | | cause of concern. During the Second World War, |
| Central Asia, Middle East and West Asia are left out | | | | Japan occupied many of the countries in this region |
| in it. However, the same goes for Euro too as most | | | | and war time memories still create very bitter |
| of the European countries are still not included.Brunei, | | | | passion in China and Korea about Japanese |
| Cambodia, Indonesia, Laos, Malaysia, Myanmar, | | | | occupation during the Second World War. So, I really |
| Philippines, Singapore, Thailand, Vietnam, Japan, South | | | | like to see how these countries can adjust to a |
| Korea and China belong to ASEAN+3. I do not know | | | | common currency. And, I also like to observe the |
| why they are leaving the rest of Asia behind. No | | | | political leaders and common people about the tough |
| doubt, that Japan. Korea, Malaysia and Singapore | | | | adjustments they have to make for ACU. Especially, |
| have the best economies in Asia and China is now a | | | | the tragic memories the 1997 financial crisis are still |
| huge economic giant. So, this may be one reason of | | | | fresh in the mind of the people.It seems that too |
| leaving alone the rest of Asia as most of the | | | | much expectation is in the air among ASEAN+3 |
| countries in the rest of Asia do not have modern | | | | countries about ACU. However, the ground reality is |
| economic system. Well, on the other hand, Laos, | | | | completely different and there is hardly anything now |
| Myanmar and Cambodia have weak economies.The | | | | to feel optimistic about the creation of ACU in near |
| road to ACU will be surely of an economic reforms | | | | future.Related Article |
| and adjustment for these 13 countries. The European | | | | Ahmed is a professional blogger and freelance writer. |
| countries who took the initiative of forming a single | | | | He mainly writes on Asian economy. |